Thursday, September 26, 2013

Low Mortgage Rate Streak Continues

The low mortgage rate streak continues. Mortgage rates continue to fall contributing to a new 3-Month low. Marking the 11th straight day where rates have either not risen or dropped to lower levels. Conforming, 30 yr Fixed rates are at 4.375% as most lenders respond in the form of lower closing costs or higher lender credit. 

Refinance Wave?

Many wonder if this low streak will signal a new refinancing wave like the one seen a decade ago. Only time can tell. In the mean time homeowners and potential home buyers do well to get their finances in order to take advantage of the savings when buying or refinancing your home loan. 

Refinancial Tip:
As online refinancing activity increases homeowners may wish to catch the refinancing wave craze but it is recommended that each household weigh the costs in the long term and carefully discuss the matter with a financial consultant when mortgage rates are low.